Blog Archives

New Requirements for Landlords

Do you rent out real estate in Arizona? Are you a landlord with tenants in a former or second home in the Phoenix metropolitan area? If so, the government has imposed a new, controversial and burdensome tax requirement that will increase your record keeping duties next year. Starting in 2011, the new rule requires that […]

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Home Prices in the Valley of the Sun

The numbers are in, and everybody wants to know – what is the latest on metropolitan Phoenix area real estate? Before I give you that, I have to tell you about my vacation. Like many Arizonans, I went to San Diego last month. But unlike normal people who spend their vacation on the beach, I […]

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Are we in for a Hockey Stick Recovery?

Everybody who knows me know how much I love hockey. I’m a Canadian so it is a genetic issue, I still play twice a week, and I watch every game I can on the NHL Center Ice channels. But I never thought you could analogize my favorite sport to real estate. But according to our […]

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Will Foreign Buyers Save Us?

Long before our latest market struggles, there has been a history of foreign buyers for U.S. residential and commercial real estate. But figures from the 12-month period ending the first half of last year show that nationally, international investors bought 10 percent fewer homes and condos compared to that same period the year before. It […]

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Is the Phoenix Area the Most Popular?

Acording to RisMedia (the self-proclaimed leader in real estate information systems), the Phoenix area is the nation’s most popular city for home hunters in 2009. The figures come from ZipRealty, a national brokerage firm, as reported in an article you can read at www.rismedia.com. Zip Realty produces a Home Hunter Report, which measures the volume […]

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Canadian Resources for you, eh?

Are you a Canuck living in the United States? Are you from the U.S. and thinking of going to Canada for the Olympics or for a vacation? Are you a Canadian visiting on an extended basis here (are you a snowbird?) Or do you have dual Canada-United States citizenship like me? Whatever your Canadian connection […]

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Lenders Aren’t Moving REOs

In an earlier blog, I wrote about the inability of lenders that had completed foreclosures to timely put those homes back on the market. Under ordinary circumstances, a bank will put a “real estate owned” (or REO) home back on the market as soon as possible – often in 30 days. But only some of […]

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The New Tax Credit – Not Limited to First Time Buyers

The $8,000 tax credit scheduled to expire November 30, 2009 has been extended. Now a purchase agreement can be entered into up to May 1, 2010, as long as the transaction closes no later than July 1, 2010. It continues to cover first time home buyers, but has also been extended to include certain existing […]

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Canada’s Economy is Going South, Part 2

In an earlier blog, I detailed that Canada recorded its first ever surplus in bilateral direct investment with the U.S. last year. Direct Canadian investment in the United States was $17.1 billion greater last year than U.S. direct investment in Canada in 2008. This amount includes Canadian amounts used to purchase goods, materials, and businesses […]

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Free Money For Arizona Home Buyers!

As of July 1, select home buyers in Maricopa County can take advantage of the Your Way Home AZ program. An offshoot of the HUD for Home Purchase Assistance project, the state version provides eligible buyers with up to 22% of a home’s purchase price. The statewide program was developed to assist home buyers purchasing […]

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Do the Latest Market Numbers mean Recovery (Part 1)?

Time on the market statistics are an important indicator of the health of a real estate market. One of the indicators of a recovery is when the residential resale inventory falls below a six-month supply. This means, on average, homes listed for sale will accept an offer and be off the active market within that […]

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Canada’s Economy is Going South, Literally…

What’s happening with Canadian real estate prices? What about the economy in the frozen north? Have Canadians stopped spending in the US? Although the Canadian economy has slowed, the flow of investment by to the US has been largely unaffected. Housing seems to be following the same path as the United States. Canadian home prices […]

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Opportunities grow despite the Slowdown

Home sales in 2008 will be the worst in a decade – and that is not adjusting for the population growth during that time. Nationwide, the government figures show that home sales declined 8.9% from October to November, and November was down 17% compared to that same month in 2007. The median sales price in […]

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Buying Still Cheaper than Renting

In 2011 I wrote about the advantage of buying a home over renting one.  It was based on a report of the greater Phoenix area prepared by local analyst Fletcher Wilcox of Grand Canyon Title in 2010. It analyzed whether it was cheaper to pay rent or pay a mortgage on a single family home, […]

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